A lot of people use penny auction sites to pay a lot less than retail. These sites are a great way to save money if you can find the strategy that works for you! No matter who you ask on a penny auction site what their strategy is you will get a different answer. What it all boils down to really is taking bits and pieces of some of the tried and true strategies and molding them into something that works for you.
There are some tried and true strategies out there. In some cases they have funny nicknames to describe the tactic. Regardless of the name these ideas really do seem to work for most people.
Flight or Fight
In some cases it is wiser as a strategy to take the flight reaction! In this strategy it is not used to win more but instead to lose less. When you are faced with a high roller that has an incredible amount of money to lose you are best to duck out of the game. How do you know who the high rollers are? Look for the person that is bidding, bidding and bidding some more. The high roller is the guy that loses a lot of money just to win! That guy that you know has a huge bank roll. Do yourself a favor and just avoid the situation.